USD/THB seen within 33.10 and 33.60 – UOB

Pablo Piovano FXStreet

Quek Ser Leang at UOB Group’s Global Economics & Markets Research suggests USD/THB is likely to navigate within the 33.10-33.60 range for the time being.

Key Quotes

“USD/THB popped to a high of 33.60 last week before pulling back sharply. Upward momentum is beginning to wane and this coupled with overbought conditions indicate that USD/THB is unlikely to strengthen much further.”

“For this week, USD/THB is likely to trade between 33.10 and 33.60. Looking ahead, there is room for USD/THB to strengthen further and only a breach of the rising trend-line support (currently at 33.03) would indicate that the current upward pressure has eased.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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